find the amount of Rs. 55000 in 8 years at 12% per annum interest compounded
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Step-by-step explanation:
1) P= 55000
R= 12%, and N= 8 years
By using formula,
A=55000(1+12/100)^8
= 55000(112/100)^8
=55000(1.12)^8
=55000* 2.457
=135735
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